An acupuncturist who also sells Pre-Paid Legal Services memberships... A sales trainer who also distributes organic chocolate bars... A land development consultant who also sells purified water machines... A real estate agent who also sells beauty products...
I'm seeing more and more of this. Friends, acquaintances and service providers promoting their *other* businesses to the same audience to whom they promote their *primary* businesses.
For example, I get emails now and then from a real estate agent who includes a blurb about that month's Avon (or maybe it's Mary Kay) special in her signature line. Sometimes it's reversed; she sends out a promotional email for her beauty product business and includes a blurb about real estate in the signature.
Another one - I was approached a few weeks ago by an industry sales trainer who wanted to know if I'd be interested in selling organic chocolate bars to supplement my own sales training income.
And yes, I was in an acupuncturist's office where his Pre-Paid Legal Services membership brochure was prominently displayed on the check-in/check-out counter.
Hey, I know times are tough. I recently calculated that I have 15 different sources of income, although I will say that the distribution of organic chocolate bars is not going to be one of them. In an uncertain economy, maybe it's prudent to hedge one's bets and create alternative income streams across different industries. (Maybe... I'm not convinced that a better strategy isn't to commit 100% to one, but that's a topic for a different day).
But cross-marketing incompatible products or services will likely backfire. We all have visions of the sort of person we'd feel comfortable entrusting our beauty needs to and that's not likely the same vision of the person we'd like to talk to about refinancing our home. And it's human nature to assume that someone who claims to be worth, let's say, $150/hour to consult on land issues shouldn't need to sell water purification systems on the side.
Instead of broadening the audience for both your primary product or service and your supplemental product or service by cross-marketing to your database, you'll very likely discredit yourself in both.
Okay, okay Ms. Smarty Pantz - I get it, but what should I do instead?
Here are a few ideas...
First, choose compatible industries. Selling organic chocolate bars might fit quite nicely into the business model of an acupuncturist, chiropractor or massage therapist. Ditto water purification systems. Selling Pre-Paid Legal memberships is somewhat compatible with the business model of a real estate agent or tax accountant. Mortgage brokering along with selling supplemental insurance or financial services might make some sense.
OR
If you're already committed to incompatible industries, perhaps you can bring your spouse on board to be the "front" man or woman for the supplemental business. Therefore, when you promote the second business, you can be doing it ostensibly for your spouse (isn't that sweet?), even though you may be the primary business owner/manager.
OR
If neither of the above options are, well, options for you, don't promote the products or services at the same time. Keep them separate in your marketing. When you send out stuff about real estate, keep it about real estate. When you promote your organic chocolate business, don't breathe a word about your mortgage business. Don't show up at a real estate closing with a Mary Kay pin on your lapel. Don't show up at your Pampered Chef party with a REALTOR pin on your lapel.
Thoughts? Please share!
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